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Search Results 0 to 25 of about 26 (some duplicates have been removed)
CNBC
Dec 25, 2012 8:00pm EST
and applause] >> when steve jobs handpicked walter isaacson to write his life story, he had already been diagnosed with cancer, but after 40 interviews, the biography provides a vivid picture of a complicated man. >> i think it's a tough book. >> it's a book that's fair. i mean, this is a real human being. >> you will hear tape recordings of jobs himself talking about being adopted, creating apple, and his regret over ignoring what could have been life-saving cancer surgery. >> you're born alone, you're gonna die alone, and what exactly is it that you have to lose? there's nothing. [ticking] it's so much more intimate than a laptop. >> when steve jobs unveiled the ipad, there was no way he could have predicted what it would mean to people with autism. it turns out it may be the perfect device to help unlock the isolation many with autism feel by helping them communicate in ways that they couldn't before. >> i want a drink. >> i always had said when he was younger, it was like he was a computer and i was computer illiterate, and i didn't know how to press the right keys. sorry. that was t
CNBC
Dec 27, 2012 5:00pm EST
to be positioned slightly long like steve's suggesting is probably the best position for a short-term -- >> what does that mean at the end of the day? people are wondering what slightly long is and what long correlation -- >> when i say we're low correlated to the market, the beta of the overall market is one, or 1.0. sky bridge is a 0.2. so, if the market goes up 100 points, we'll move 20 points. if market goes down 100 points, we'll move down 20 points. >> what does that portfolio look like? people want to be low correlated. >> it's heavy fixed income, heavy mortgage-backed securities, could be whole loan credit. it could be agency, nonagency paper. it could be some treasuries. it's a whole e leg tick mix of things. and believe it or not, it could be greek bonds, even. those are examples, not necessarily what we have in our specific portfolio. >> let's get back to d.c. the house of representatives set to reconvene on sunday in another attempt to agree on a fiscal cliff deal. amon j eamon jav everyoers has the sto. >> i'm keeping an eye on my iphone here, i just got an e-mail from a source that
CNBC
Dec 31, 2012 7:00pm EST
is an update from an old friend and pair of ours, author of "beyond outrage" and steve moore, i guess robert reich attacks things, but why is it your democratic friends never want to cut spending and never want to shrink the government? why is that? >> i think a lot of documents are willing to cut spending that maybe you would agree with, larry. the problem with this bill, the biggest problem is it doesn't deal with the debt ceiling. we are going to have trench warfare and this is not going to end. >> the debt ceiling which is a scary thing. the republican's last shot at leverage, but markets get real nervous as i do when you start messing around with the us credit worthy news. and during the negotiations the democrats had no interesting spending. let me say one thing about this deal. if you look at the specifics of the deal, you know, it is not such a terrible thing, it is probably the best that republicans could get. but i want to make this point loud and clear. this is raising taxes on investment and businesses. i don't see anything good about it for the markets. we finally have resolutio
CNBC
Dec 26, 2012 3:00pm EST
and fundamental side with steve cortes. good to see you both. one has been a stellar performer and the other not so much. what do you like right now? >> bill, you just summed it up. the news came out over the weekend and the market is telling you what you should believe in. netflix is up 1% and amazon down 3.5%. look at the chart in amazon, you can see it's been showing us this over the last four months. amazon put a high in at 261. about eight days ago tried to take out that high and couldn't do it. it put in a double top. that's a sign of a -- you know, of a failure. you have a stock like amazon who basically -- the stock failed at 261 and now we have a 20-day moving average which it broke through and 209-day moving average, the last time it broke through the 20-day moving average it fell 13%. now we look over at netflix, that's a totally different story, right you? said it was a dog. it bottomed out at $54 and broke above its 20-day moving average and stayed above its 20-day moving average for the last four weeks. if it stays above its $20 moving average we're going to long this. our pric
CNBC
Dec 28, 2012 3:00pm EST
capital, rick santelli, steve guilfoyle on the floor of the exchange with us as well. let's see. let's start with you, mr. grinch. you sell on any strengths, even now, even if we get a deal? >> well, fundamental analysis is thrown out the window. this obviously is a headline-driven market. any time you're hearing about something that's going to take place, any hint at any type of negotiation, any type of a deal, the markets tend to respond. right now i think the markets are calling their bluff right now. we're not expecting a lot out of what's taking place in washington at this moment. here's a thing, guys. even if there is a deal, it's going to be tough. you'll have a knee jerk reaction. markets should be rallying, might be a great opportunity to sell into strength, because when you look behind the curtain of any deal that's going to happen, it's going to be remarkably bad for the economy. >> austerity on the way. >> absolutely. >> whatever we're looking at. >> talking about spending. the whole conversation has been about tax hikes. i mean, you can't -- you're talking about how many
CNBC
Dec 31, 2012 12:00pm EST
, tom, steve wise. good call on the market this year. i was skeptical around midyear when you were out with such an optimistic call, even earlier in the year i was skeptical. >> yeah, thanks. >> he's just a skeptic, tom, let's put that on the table. >> but you talk to so many institutional investors, what is your sense, from the conversations i have and what we have talked about in "fast money," a lot went to cash that could go to cash around november. they are waiting for the fiscal cliff to get settled so they have direction in the market because they want to take the risk off. is that an accurate portrayal of mostly the hedge funds who can go to cash in your view? >> yeah, that's right. investors both lone and hedge funds are playing pretty close to the vest. they are worried about draw-downs and having losses. of course, that's kept risk positions low. so i do agree if we get clarity, one source of clarity is a cliff deal. we should start to see a lot more conviction in trades. >> so to follow that with another question, if that's the case, you have to believe that most of the sell
CNBC
Dec 31, 2012 1:00pm EST
ahead? steve liesman has that for us. >> this could be the fiscal cliff game at home report. now that there is a plan in motion, can you see some of the things that are in play here. the revenue side of the fiscal cliff $520 billion, spending side, $130 billion. some piece of that is going to go away if indeed they do end up capping the increases of those at $400,000, 450 and above. we don't know how much. perhaps the vast bulk of it could go away. no discussion on wlornt automatic spending cuts for this year would be affected at all. there's the total 650. impact of the total fiscal cliff this year and by way of contrast or comparison, here is the gdp effect. we gained in nominal terms and that's why going over the cliff means negative growth, it means a recession. here is some of the detail of what we ever talking about here. 620 billion. that's the total revenue. depends on which numbers you use. moving on, per capitia effect, it affects different people differently. 26.2 million is the number of americans that will see an increase in taxes subject to amt that alternate taxati
CNBC
Dec 27, 2012 9:00am EST
iron oar a lot. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3% decline in the market. >> does it amaze you, steve, that the markets, in your view, still consider a given that we are going to reach a deal? here we are thursday, december 27th. they still haven't issued a 48-hur notice for congress to return to capitol hill and yet you're saying the markets have baked in some sort of deal? >> yeah, i think so. i don't in he isly think the deal happened december 31st. if we pass waite without a deal earthquake the market will think something is going to happen in early january this is the way washington works, they walk right up to the edge of the deal, maybe even p
CNBC
Dec 26, 2012 5:00am EST
the fiscal cliff. let's get to our senior economic reporter, steve leesman, with his predictions for the economy in 2013. >> reporter: >>> trying to figure out what's going to happen in 2013 depends on one very important development -- whether the u.s. goes over the fiscal cliff in a few days' time, and for how long. if it's avoided, there's considerable upside for the economy. we could see at least one and maybe two quarters of growth above 3%. the kind of growth that would put people back to work and lower the unemployment rate. why? because business has been holding back investment amid the uncertainty. unleashing business spending would add to the growth from the nascent rebound in housing and from the consumer who has hung in there despite tough times. in fact, we could see unemployment drop below 7%. although it might first rise, more work into the work force who have been discouraged but can't find work. then could it fall. as for the fed, i think the market may be overstating its expectations for assets purchased from the central bank in 2013. at the current pace, the new
CNBC
Dec 31, 2012 4:00pm EST
senior economics report steve leisman join us with their predictions here. david, start with you. what are you looking at? especially bear in mind we're going to be still feeling the effects of the fiscal cliff and technically we're going over it tonight. does this affect your thoughts of investing in 2013? >> absolutely it does, bill. and it has the last two months. we've seen a marked retreat from u.s.-based investments after u.s. centric holdings, the s&p 500 showing strong leadership in the first ten months of the year. what we've reason seen is now foreign markets picking up the slack. so i would say when we look into 2013, the opportunities most likely exist outside the united states, not in the u.s. >> outside of the united states is a large geographic area. can you narrow it down for us? like asia, europe, emerging frontier, what is it? >> of course, mandy. and that's part of the asset selection you have to do. for us one of the best areas we've seen has been in emerging market debt. it started out many years ago with the bricks and recently we've moved in the last five or six
CNBC
Dec 26, 2012 12:00pm EST
to weather the rockiness near term and benefit from an agreement on this fiscal cliff. >> steve weiss quickly. >> john, how do you see it playing out? we've seen a lot of ends being front end loaded only to fall off and maintain the back end. with everything that's going on in terms of spending, cutting back from europe and from u.s. standpoint. how do you see it playing out next year in terms of the market action? >> in terms of the market action, what we would expect, the first quarter a lot is going to depend on what happens with the fiscal cliff. as i said before, if we move into a recession, you're not going to get a 1585 target or 2 $108 in earnings. we're not expecting the powers that be in washington are going to be willing to save a defeat from the jaws of victory. >> you haven't watched them before, john, have you? >> i've been around for a long time. i have watched them before. i do know that they worry about legacy. the history books would write about them and say do this. >> it's good to talk to you. thank for coming on. >> thanks for having me. >>> pete, 1585 is the price targe
CNBC
Dec 30, 2012 7:30pm EST
from the -- >> my friend steve jobs has lots of cash in the bank. >> you started brewing sam adams beer in your kitchen in 1984. tell me how that happened, how -- how did you decide you wanted to brew your own beer in the kitchen? >> well, i come from six generations of brewmasters, so beer was kind of in my history, in my blood. about .06, that was still legal. >> homeless to a millionaire? >> we believed what we did would work, no matter how bad times were. >> in 2020, are we going to be in a much better place? the alternative was not the greatest health care system in the world with no problems. the alternative was a health care system with a lot of problems. >> if you were starting your career today, secretary solis, where would you work? >> i would want to make sure i have the skill sets available and that means soft skills, it means also technical skills. for example, even welding. did you know there's a shortage of people that have that skill available right now? >> these are the cars that run on sunday. this is the championship car that tony stewart drove. >> people start watchi
CNBC
Dec 31, 2012 4:00am EST
countries, particularly in china. >> steve, it also comes at a time when there's been a lot of congressional scrutiny for companies that go around the rules that the u.s. has. what is -- is this behavior illegal? and in what sense is it contra convenienting those laws and do you expect them to come under more precious in the u.s.? >> after i started writing about ze back in march and april, the u.s. commerce department immediately launched an investigation and later the justice department launched an investigation after a -- after it came out that zte allegedly attempted to cover it up and considered destroying the documents i had. whether that happened to huawei remains to be seen. the house intelligence committee issued a report which is highly critical of both of these companies including huawei for failing to be open about its iran business and provide any evidence that they were, in fact, obeying u.s. sanctions. and i don't believe that those investigators had access to the documents i've seen concerning huawei. i can't imagine that this isn't going to cause some problems for huawei goi
CNBC
Dec 29, 2012 4:00am EST
buy that declares its sincere steve. we're focusing on buying at the top. nothing more arrogant than when an insider backs up a truck for his own stock, sitting at a 52-week high. they are saying we know we rock, and we're so confident it will keep going higher, we'll buy stock hand over fist, not waiting for a pullback. buying what looks like to be the high. arrogant, sure, but bankable uverse, and there are notable exceptions occupying the wall of shame. let's assume they know what they are doing. not everyone deserves the benefit of the doubt in this business, and after the financial crisis at the end of 2008, i know a lot of people think ceo execs are fraud, crooks, liars, especially those of you who got burned on lehmann brothers. that's the wrong lesson to draw from the crash. healthy skepticism is one thing. a total unwillingness to believe anything positive is something entirely different. if you are going to own stocks, you need to be willing to extend some measure of trust to those who run the companies. getting their stock to a 52-week high and buying a bunch of shares is
CNBC
Dec 31, 2012 3:00pm EST
, $300,000 for couples. that is a concession for the president. and our colleague steve leisman has been also doing reporting on this. he just spoke to me by phone as i was preparing to go on with a source familiar with the talks who noted a wind energy tax credit is preserved as the president eluded to in his remarks. also depreciation for businesses with spending money on new equipment. all of those things arement wills of the tax deal, but until they get the sequester, the budget elements worked out, the deal's not going to be finished. >> now, the deduction phaseout. this is relatively new. any idea at this point which deductions we're talking about and any timetable for them? >> i have to confess, bill, i don't know how exactly that works. these are provisions that were first initiated in the 1990s as a way of getting more revenue from people at the top without raising their rates. so what you do is you take the same deductions that other people can take and you limit their value over a certain income level. this is in addition to something the president's proposed of making the tax
CNBC
Dec 28, 2012 12:00pm EST
controversy. is the worst behind facebook? let's debate it. mike fmurphy our bull. steve weis our bear. you must be concerned about the instagram loss of users. >> the instagram news was very negative for facebook. but if you saw the boy genius had an article out this morning that said they've actually gained users. contradicting what the new york post said as far as losing users. when you look at facebook it is really a valuation call. from the $38 price target it has come down south of 20. now you look at it and you're talking about revenues for next year. where are they going to generate revenues? we heard from zuckerberg who is growing into his role as a ceo. no longer a kid in a hoody but a guy running a multimillion dollar company. >> a married man. >> now you look for next year they expect north of $2 billion in revenue from their mobile apps. you look at the big kicker for next year and one of the main reasons i'm long facebook currently is their want buttons and gift buttons. when you're on facebook you click on a gift button and, bang. all of a sudden you send over to steven weis
CNBC
Dec 24, 2012 12:00pm EST
over the fiscal cliff. what happen fess we don't in steve liesman's predictions. >>> have you bought an apple product on-line from anyone? if you have, listen up, snatch and grabs are plaguing apple users throughout the country and are making their way on-line. [ male announcer ] citi turns 200 this year. so why exactly should that be of any interest to you? well, in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. like the transatlantic cable that connected continents. and the panama canal that made our world a smaller place. we supported the marshall plan that helped europe regain its strength. and pioneered the atm, so you can get cash when you want it. it's been our privilege to back ideas like these, and the leaders behind them. so why should our anniversary matter to you? because for 200 years, we've been helping people and their ideas move from ambition to achievement. and the next great idea could be yours. ♪ executor of efficiency. you can spot an amateur from a m
CNBC
Dec 24, 2012 6:00am EST
for the economy in the new year. here is steve liesman with a preview of what he expects in 2013. >> trying to figure out what's going to happen in 2013 depends on one very important development. whether the u.s. goes over the fiscal cliff in a few days' time. and, for how long. if it's avoided, there's considerable upside for the economy. we could see at least one, and maybe two quarters of growth above 3%. the kind of growth that would put people back to work and lower the unemployment rate. why? because business has been holding back investment under the uncertainty, unleashing business spending would add to the growth from the rebound in housing and from the consumer who has hung in there despite tough times. in fact, we could see unemployment drop below 7%. although it might first rise, and people come into the workforce will be discouraged but then it could start to fall. as for the fed i think the market may be overstating its expectation for asset purchases from the central bank in 2013. at the current pace the new round of quantitative easing will add $1 trillion to the balance she
CNBC
Dec 27, 2012 6:00am EST
. and then, you know, i don't think we've run this bite enough. >> tim geithner told steve liesman. >> i have it ready. >> that he is we should show it multiple times. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250, andrew. they love that. what does oh, absolutely mean, bob? >> maybe it means his favorite movie was "rebel without a cause." >> go the. >> i guess it's letting the other side know you're willing to go eyeball to eyeball with something that is terrible. >> i see both sides pretending to say, yeah, we're doing all we can, but it's almost just like this -- like boehner just said, hey, you guys, you happen, in the democratic-controlled senate, you put a bill together. i'd love to consider it. he can't get his guys to consider a democratic bill. >> as long as they feel like they ca
CNBC
Dec 31, 2012 9:00am EST
. as the deadline for the fiscal cliff does loom, what does it peen if your money if we do not get a deal? steve liesman has more on that. >> we talk about a lot of these big numbers that are out there and we don't talk about what it means to individuals. so let me see if i can break down the big numbers into something that might mean something to individual people here. $620 billion, that's the number that's the total revenue increases and spending cuts. about $130 billion of the automatic cuts that john harwood was just talking about, talking about trying to ally for a little while. 1920. that's if you break it down by every man, woman and child in america. that's the per capita fiscal cliff effect. but that effects a lot of people differently here. $26.2 million. that's the number of americans that will be caught by the amt, the alter naf tax system, unless congress comes up with a patch and that's part of the whole fiscal cliff effect. come on over here, we'll show you more. 2.1 million, that's the number of long term unemployed americans who will lose the extended benefits again if there's
CNBC
Dec 31, 2012 6:00am EST
a moment. we also have pimco's mow hammel el-erian. >>> steve sedgwick is standing by in london right now. how are things standing by there? >> it's a very quiet session as we saw last week on the u.s. and the european incidentsies. despite the fact that the vix in the united states and the v-stocks and the various volatility measures on this side of the atlantic remain elevated. despite that, we're not seeing a lot of oscillation on the back of, as you said, the fiscal cliff and concerns that we may fall off. does that mean that people are getting complacent? they think even though we might not get a deal in the next 24 hours, we will get a deal fairly imminently. in the meantime, though, this is what we've got in terms of the major european indices. that will open and the germans will come to that in a few minutes' time it has been up year-to-date around about 6% and that makes the ftse 100 a real lagger compared with some of its european peers. a laggard, as well, compared to the cac 40. we have no fiscal cliff deal as of yet and it is up 1%. that means the cac 40, the french equity ma
Search Results 0 to 25 of about 26 (some duplicates have been removed)